{"id":16,"date":"2018-09-23T03:16:31","date_gmt":"2018-09-23T03:16:31","guid":{"rendered":"http:\/\/mitmgmtfaculty.mit.edu\/kjforbes\/research-publications\/"},"modified":"2026-03-16T13:07:51","modified_gmt":"2026-03-16T13:07:51","slug":"research","status":"publish","type":"page","link":"https:\/\/mitmgmtfaculty.mit.edu\/kjforbes\/research\/","title":{"rendered":"Research"},"content":{"rendered":"<div id=\"pl-16\"  class=\"panel-layout\" ><div id=\"pg-16-0\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-16-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-16-0-0-0\" class=\"so-panel widget widget_mit-pf-research widget_mit_pf_research panel-first-child\" data-index=\"0\" ><div class=\"textwidget\"><a name=\"workingpapers\"><\/a>\n<h3 style=\"text-align: left\"><span class=\"style14\"><a href=\"#workingpapers\">Working Papers &amp; Recent Projects<\/a>\u00a0|\u00a0<a href=\"#publishedpapers\">Published Papers<\/a> | <a href=\"#older\">Older Projects<\/a><\/span><\/h3><\/div><\/div><div id=\"panel-16-0-0-1\" class=\"so-panel widget widget_mit-pf-research widget_mit_pf_research\" data-index=\"1\" ><h2 class=\"widget-title\">Working Papers and Recent Projects<\/h2><div class=\"textwidget\"><ul>\n \t<li><a href=\"https:\/\/mitsloan-php.s3.amazonaws.com\/wp-faculty\/sites\/128\/2026\/02\/06140017\/Monetary-Policy-and-Global-Imbalances_Forbes_2026_01_18.pdf\">Convergence, Divergence, and a Divergent: Monetary Policy and Global Imbalances <\/a>(January 2026)<strong>, <\/strong>paper prepared for Annual AlUla Conference for Emerging Market Economies, in AlUla, Kingdom of Saudi Arabia on Feb 8-9.\n<ul>\n \t<li><a href=\"https:\/\/x.com\/i\/status\/2021127934140874792\">Overview<\/a> of conference<\/li>\n \t<li><a href=\"https:\/\/x.com\/AlUlaCEME\/status\/2020453472785535274\/video\/1\">Clip<\/a>of my session<\/li>\n \t<li><a href=\"https:\/\/www.youtube.com\/watch?v=q_mnyNFzTnM\">Full video<\/a> of presentation<\/li>\n \t<li>Selected press mentions:\n<ul>\n \t<li><a href=\"https:\/\/www.ft.com\/content\/8333387f-d23f-4fa8-b16d-365ff11a18ef\">Financial Times<\/a> (02\/20\/25)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=6169886\">Heaven or Earth? The Evolving Role of Global Shocks for Domestic Monetary Policy<\/a> (February 2026), joint with Jongrim Ha and M. Ayhan Kose.\n<ul>\n \t<li>Related VoxEU blog, \u201c<a href=\"https:\/\/cepr.org\/voxeu\/columns\/earth-heaven-changing-drivers-monetary-policy\">From Earth to Heaven: The Changing Drivers of Monetary Policy<\/a>\u201d (March 11, 2026)<\/li>\n \t<li>Also available as <a href=\"https:\/\/cepr.org\/publications\/dp21109\">CEPR Working paper #DP21109<\/a><\/li>\n \t<li>Also available as <a href=\"https:\/\/www.nber.org\/papers\/w34806\">NBER Working Paper 34806<\/a><\/li>\n \t<li>Selected mentions:\n<ul>\n \t<li><a href=\"https:\/\/www.centralbanking.com\/central-banks\/economics\/macroeconomics\/7974987\/models-need-rethink-due-to-effect-of-global-shocks-paper?check_logged_in=1\">Central banking<\/a> (02\/10\/26)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/www.amazon.com\/Art-Monetary-Policy-Lessons-Distinguished-ebook\/dp\/B0G2FPZQWN\/ref=sr_1_1?crid=F92VGESZ4ZP&amp;dib=eyJ2IjoiMSJ9.flJxbje3V3vOwZtSCanlgv4V3ljv1nSdHaRxxo3xOYrlA7p0RzeQy6A3BqV3iTDOvX75w9HK_9UzyHFNM3HmBZrTI5LwxoEUepdAlzSe4E6Wy5gA3Ty9qY2Ffc_pC-gJcyaKU2dEBt6NWxt6zXI9Ur37-nnxv5C-JCkQg41QzJV3SfgXGfSlwmS8S1UWy8t8JyrfC-o64UfMPXxipcyIowD1W4QpAYNVUik14RsG4so.pmhnE0ZDAIHLO9tiQ1zanu299oS9VKnJD1tXnzCLKqo&amp;dib_tag=se&amp;keywords=art+of+monetary+policy&amp;qid=1769794548&amp;sprefix=art+of+monetary+policy,aps,149&amp;sr=8-1\">The Art of Monetary Policy<\/a> (book forthcoming October 2026). Karl Brunner Distinguished Lecture, Swiss National Bank.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>\n<div class=\"elementToProof\">Updated version, <a id=\"LPlnk736051\" title=\"https:\/\/cepr.org\/publications\/dp19905\" href=\"https:\/\/cepr.org\/publications\/dp19905\" target=\"_blank\" rel=\"noopener\" data-outlook-id=\"038440f5-704f-4f0d-8419-073dc8c495cd\">CEPR Discussion Paper 19905<\/a>\u00a0(Feb 2025)<\/div><\/li>\n \t<li>Slides from <a href=\"https:\/\/www.snb.ch\/en\/services-events\/events\/karl-brunner-lectures#t000\">lecture at ETH Zurich<\/a> on October 3, 2024.<\/li>\n \t<li>Link to <a href=\"https:\/\/www.snb.ch\/en\/publications\/communication\/speeches\/2024\/ref_20241003_msl\">Introduction by Martin Schlegel<\/a>, Chairman of the Governing Board<\/li>\n \t<li>Link to <a href=\"https:\/\/www.snb.ch\/en\/services-events\/digital-services\/researchtv-events\/researchtv-2024-10-03\">video of lecture<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents?PublicationDocumentID=10613\">Tradeoffs over Rate Cycles: Activity, Inflation and the Price Level<\/a> (May 2025), joint with Jongrim Ha and Ayhan Kose. Paper prepared for the NBER\u2019s 40<sup>th<\/sup> Annual Conference on Macroeconomics, held in Cambridge, MA on April 10-11, 2025.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Related VoxEU blog, \u201c<a href=\"https:\/\/cepr.org\/voxeu\/columns\/post-pandemic-disinflation-low-sacrifice-high-prices\">The Post-Pandemic Disinflation: Low Sacrifice, High Prices<\/a>\u201d\u00a0(July 28, 2025)<\/li>\n \t<li>Also available as <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=5268615\">NBER Working Paper # 33825<\/a> and <a href=\"https:\/\/cepr.org\/publications\/dp20240\">CEPR Discussion Paper #20240<\/a><\/li>\n \t<li><a href=\"https:\/\/mitsloan-php.s3.amazonaws.com\/wp-faculty\/sites\/128\/2025\/05\/15121807\/Tradeoffs_slides_NBER-Macroannual.pdf\">Slides<\/a> from NBER presentation (April 2025)<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/scl\/fi\/wl7o4u4ksuag0ii375zvp\/CreateCycles_to_zip.zip?rlkey=3ftl5gqvriv1oghsnkmy27g69&amp;st=26mo3zo4&amp;dl=1\" target=\"_blank\" rel=\"noopener\"><u>Zip<\/u><\/a> file with program and data to replicate dates and statistics for Rate Cycles, including a Read me document with information and graphs with the Rate Cycles for each economy<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/scl\/fi\/i6rz5wpkmpdx4n8iu4icz\/cycle_dates_stata.dta?rlkey=94o2c758i5cne46ejh26fg76a&amp;st=gxh04bxm&amp;dl=1\" target=\"_blank\" rel=\"noopener\"><u>Dates of resulting Rate Cycles<\/u><\/a> (stata file)<\/li>\n \t<li>Summaries and links to related press:\u00a0<a href=\"https:\/\/www.devdiscourse.com\/article\/other\/3424776-unpacking-central-bank-tradeoffs-inflation-output-and-price-levels-post-pandemic\">summary in Devdiscourse<\/a>, <a href=\"https:\/\/www.centralbanking.com\/central-banks\/monetary-policy\/communication\/7973412\/%E2%80%98start-late-then-sprint%E2%80%99-may-cost-when-tackling-inflation-%E2%80%93-cepr?_hsenc=p2ANqtz-_wp8uvBaIZbRDM2xfTyM9GNqHjFo_7baTL8g8D4QrW0DZqJSGxn8N_vDPW3kR5V78t6G3EEWGBEEmIstkWo7b0Np83bA&amp;_hsmi=373311890&amp;position=4&amp;total=7&amp;check_logged_in=1\">summary in Central Banking<\/a>, <a href=\"https:\/\/www.ft.com\/content\/90652405-89af-44e4-9ff4-314dbe1125ef\">oped in Financial Times<\/a>, <a href=\"https:\/\/cepr.org\/voxeu\/columns\/post-pandemic-disinflation-low-sacrifice-high-prices\">summary in VoxEU<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/www.ecb.europa.eu\/pub\/pdf\/sintra\/ecb.forumcentbankpub2024_Forbes_paper.en.pdf\">Rate Cycles<\/a>\u00a0(July 2024) with Jongrim Ha and M. Ayhan Kose. In <a href=\"https:\/\/www.ecb.europa.eu\/press\/conferences\/html\/20240701_ecb_forum_on_central_banking.en.html\">Monetary Policy in an Era of Transformation<\/a>, ECB Forum in Central Banking in Sintra, Portugal.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Slides from <a href=\"https:\/\/www.ecb.europa.eu\/pub\/pdf\/sintra\/ecb.forumcentbankpub2024_Forbes_presentation.en.pdf\" target=\"_blank\" rel=\"noopener\">conference presentation<\/a> at the ECB Forum at Sintra (July 2024)<\/li>\n \t<li>Also published as <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=5063421\">MIT-Sloan Research Paper no. 7185-24<\/a><\/li>\n \t<li>Also published as <a title=\"https:\/\/cepr.org\/publications\/dp19272\" href=\"https:\/\/cepr.org\/publications\/dp19272\" target=\"_blank\" rel=\"noopener\" data-outlook-id=\"0301a931-ef7c-4300-bcbc-dd5156aceda1\">CEPR Working Paper DP19272<\/a> (July 2024)<\/li>\n \t<li>Related VoxEU blog, \u201c<a href=\"https:\/\/cepr.org\/voxeu\/columns\/demand-versus-supply-drivers-post-pandemic-inflation-and-interest-rates\" target=\"_blank\" rel=\"noopener\" data-outlook-id=\"39da3113-8333-4db6-b5e3-2aff609e0cac\">Demand versus Supply: Drivers of the Post-Pandemic Inflation and Interest Rates<\/a>\u201d (Aug. 9, 2024)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents?PublicationDocumentID=10422\" target=\"_blank\" rel=\"noopener\">Quantitative Tightening Around The Globe: What Have We Learned?<\/a> (October 2024) with Wenxin Du and Matthew Luzzetti. <a href=\"https:\/\/www.nber.org\/papers\/w32321\" target=\"_blank\" rel=\"noopener\">NBER Working Paper #32321<\/a>.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Op-ed: <a href=\"https:\/\/www.ft.com\/content\/d70752ec-810b-492f-8ac1-be38b2e5dd60\" target=\"_blank\" rel=\"noopener\">The Data is In: How QT Impacts Markets<\/a>, <em>Financial Times<\/em>, March 4, 2024<\/li>\n \t<li>Selected press mentions: <a href=\"https:\/\/marketnews.com\/mni-interview-active-qt-can-aid-hikes-without-market-turmoil\" target=\"_blank\" rel=\"noopener\">MNI<\/a> (March 1, 2024), <a href=\"https:\/\/www.msn.com\/en-us\/money\/markets\/qt-not-quite-paint-drying-but-having-little-impact-so-far-research\/ar-BB1jd2BA\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> (March 2, 2024), <a href=\"https:\/\/www.ft.com\/content\/8a491bf7-4b21-48fc-8ca8-9af12bedfb33\" target=\"_blank\" rel=\"noopener\"><em>Financial Times<\/em><\/a> (March 4, 2024)<\/li>\n \t<li>US Monetary Policy Forum <a href=\"https:\/\/www.chicagobooth.edu\/-\/media\/project\/chicago-booth\/centers\/clark-center\/events\/us-monetary-policy-forum\/2024\/01--01--forbes--usmpf_qt-talk_2024_02_29.pdf\" target=\"_blank\" rel=\"noopener\">conference presentation slides<\/a> (March 2024)<\/li>\n \t<li>Older version (February 2024): <a href=\"https:\/\/www.chicagobooth.edu\/-\/media\/project\/chicago-booth\/centers\/clark-center\/usmpf-paper-pdf\/quantitative_tightening_around_the_globe_usmpf_2024_02_12.pdf\" target=\"_blank\" rel=\"noopener\" data-outlook-id=\"bfe30086-8d90-4fa7-9f30-f84203736a85\">Quantitative Tightening Around The Globe: What Have We Learned?<\/a> Presented at US Monetary Policy Forum, March 1<\/li>\n \t<li>Also available as <a href=\"https:\/\/cepr.org\/publications\/dp19626\">CEPR Discussion Paper #19626<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul><\/div><\/div><div id=\"panel-16-0-0-2\" class=\"so-panel widget widget_mit-pf-wysiwyg widget_mit_pf_wysiwyg\" data-index=\"2\" ><div class=\"textwidget\"><a name=\"publishedpapers\"><\/a><\/div><\/div><div id=\"panel-16-0-0-3\" class=\"so-panel widget widget_mit-pf-research widget_mit_pf_research\" data-index=\"3\" ><h2 class=\"widget-title\">Published Papers and Books<\/h2><div class=\"textwidget\">Please download for personal use only. Contact the copyright holder to request permission to make additional copies.\n<ul>\n \t<li><a href=\"https:\/\/cepr.org\/publications\/books-and-reports\/monetary-policy-responses-post-pandemic-inflation\" target=\"_blank\" rel=\"noopener\">Monetary Policy Response to the Post-Pandemic Inflation<\/a> (2024) with Bill English and \u00c1ngel Ubide.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Overview and full <a href=\"https:\/\/cepr.org\/publications\/books-and-reports\/monetary-policy-responses-post-pandemic-inflation\" target=\"_blank\" rel=\"noopener\">CEPR book<\/a><\/li>\n \t<li>Link to a <a href=\"https:\/\/cepr.org\/voxeu\/columns\/monetary-policy-responses-post-pandemic-inflation-challenges-and-lessons-future\" target=\"_blank\" rel=\"noopener\">VoxEU article<\/a> with highlights<\/li>\n \t<li>Link to a <a href=\"https:\/\/www.ft.com\/content\/a27f6469-e97c-4629-84fe-15b78e890e20\" target=\"_blank\" rel=\"noopener\">FT article<\/a> on the book (February 20, 2024)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a title=\"https:\/\/www.piie.com\/bookstore\/2024\/floating-exchange-rates-fifty\" href=\"https:\/\/www.piie.com\/bookstore\/2024\/floating-exchange-rates-fifty\" target=\"_blank\" rel=\"noopener\" data-outlook-id=\"a12645be-35c9-45de-a6ff-d8951da50a30\">Replacing the Golden Anchor for Price Stability<\/a> (2024), in Douglas Irwin, Maurice Obstfeld and Adam Posen, eds. <em>Floating Exchange Rates at Fifty. <\/em>Peterson Institute of International Economics (April), chapter 16.\n<ul>\n \t<li><a href=\"https:\/\/www.dropbox.com\/scl\/fi\/s27jbk0ch6p7a2xrtrzwj\/Forbes_Replacing-the-Golden-Anchor_conference-version.pdf?rlkey=1mi4rmtj2mp0ptb8dxnvirxb8&amp;dl=1\" target=\"_blank\" rel=\"noopener\">Conference version<\/a><\/li>\n \t<li><a href=\"https:\/\/www.piie.com\/sites\/default\/files\/2023-03\/2023-03-23-2-forbes-ppt.pdf\">Slides from conference<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304393223000442\" target=\"_blank\" rel=\"noopener\">Stress Relief?: Funding Structures and Resilience to the Covid Shock<\/a> (2023) with Christian Friedrich and Dennis Reinhardt, <em>Journal of Monetary Economics<\/em> 137 (July):47-81.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=9923\" target=\"_blank\" rel=\"noopener\">Online Appendices<\/a> for published paper<\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4454875\" target=\"_blank\" rel=\"noopener\">NBER Working Paper #31255<\/a> (May 2023)<\/li>\n \t<li><a href=\"https:\/\/cepr.org\/publications\/dp17852\" target=\"_blank\" rel=\"noopener\">CEPR Working Paper DP #17852<\/a>\u00a0(Jan 2023)<\/li>\n \t<li><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents?PublicationDocumentID=9919\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Working Paper #6976-22<\/a>\u00a0(Nov 2022)<\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4335678\" target=\"_blank\" rel=\"noopener\">Bank of England Staff Working Paper #1003<\/a> (Nov 2022)<\/li>\n \t<li>Blog on VoxEU, <a href=\"https:\/\/cepr.org\/voxeu\/columns\/funding-structures-and-resilience-shocks-after-decade-regulatory-reform\" target=\"_blank\" rel=\"noopener\">Funding Structures and Resilience to Shocks after a Decade of Regulatory Reform<\/a> (June 29, 2023)<\/li>\n \t<li>Blog on Bank Underground, <a title=\"https:\/\/bankunderground.co.uk\/2023\/06\/29\/funding-structures-and-resilience-to-shocks-after-a-decade-of-regulatory-reform\/\" href=\"https:\/\/bankunderground.co.uk\/2023\/06\/29\/funding-structures-and-resilience-to-shocks-after-a-decade-of-regulatory-reform\/\" target=\"_blank\" rel=\"noopener\">Funding Structures and Resilience to Shocks after a Decade of Regulatory Reform<\/a> (June 29, 2023)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a title=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0014292123001289?via%3Dihub\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0014292123001289?via%3Dihub\" target=\"_blank\" rel=\"noopener\" data-outlook-id=\"e65c7516-056f-48b3-b4fe-98ee4e50b90b\">Policy Packages and Policy Space: Lessons from COVID-19<\/a>\u00a0(2023) with Katharina Bergant.\u00a0<i>European Economic Review, Vol. 158 (Sept).<\/i>\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Related blog on VoxEU, <a href=\"https:\/\/cepr.org\/voxeu\/columns\/responses-covid-19-role-policy-space\" target=\"_blank\" rel=\"noopener\">Responses to COVID-19: The Role of Policy Space<\/a> (Jan 2023)<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/scl\/fi\/t3aqnp5wsw5pvzevkk3qy\/PolicyPackages-PolicySpace.zip?rlkey=xx7n3lfayy7gxgo7gh6o4fiuu&amp;dl=1\" target=\"_blank\" rel=\"noopener\">Link to zip file<\/a> with data on policy responses, variable information, and code to replicate selected figures, tables, and regressions<\/li>\n \t<li><a title=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4461620\" href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4461620\" target=\"_blank\" rel=\"noopener\">NBER Working Paper 31254<\/a> (May 2023)<\/li>\n \t<li><a href=\"https:\/\/cepr.org\/publications\/dp17699\" target=\"_blank\" rel=\"noopener\">CEPR Working Paper DP #17699<\/a> (Nov 2022)<\/li>\n \t<li><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=9928\" target=\"_blank\" rel=\"noopener\">MIT Sloan Working Paper #6795-22<\/a> (Nov 2022)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/doi.org\/10.1016\/j.jinteco.2022.103582\" target=\"_blank\" rel=\"noopener\">Spillovers at the Extremes: The Macroprudential Stance and Vulnerability to the Global Financial Cycle<\/a> (2022) with Anusha Chari and Karlye Dilts-Stedman. <em>Journal of International Economics vol. 136 (May).<\/em>\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Available as <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3991050\" target=\"_blank\" rel=\"noopener\">Federal Reserve Bank of Kansas City Working Paper No. 21016<\/a>.<\/li>\n \t<li>Available as <a href=\"https:\/\/www.nber.org\/papers\/w29670\" target=\"_blank\" rel=\"noopener\">NBER Working Paper No. 29670<\/a>.<\/li>\n \t<li>Also available as <a href=\"https:\/\/portal.cepr.org\/discussion-paper\/19441\" target=\"_blank\" rel=\"noopener\">CEPR Working Paper No. 116889<\/a>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/doi.org\/10.18800\/economia.202201.003\" target=\"_blank\" rel=\"noopener\">Low Inflation Bends the Phillips Curve Around the World<\/a> (2022) with Joseph Gagnon and Christopher Collins. <i>Economia <\/i>vol. 45 (89): 52-72.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3930104\" target=\"_blank\" rel=\"noopener\">Low Inflation Bends the Phillips Curve Around the World: Extended Results<\/a>, Peterson Institute for International Economics Working Paper 21-15, Sept. 2021.<\/li>\n \t<li>Also available as <a href=\"https:\/\/www.nber.org\/papers\/w29323\" target=\"_blank\" rel=\"noopener\">NBER Working Paper 29323<\/a> (Oct. 2021) and\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3960155\" target=\"_blank\" rel=\"noopener\">CEPR Discussion Paper 16583<\/a> (Sept. 2021).\n<a href=\"https:\/\/www.piie.com\/publications\/working-papers\/low-inflation-bends-phillips-curve-around-world-extended-results\" target=\"_blank\" rel=\"noopener\">Low Inflation Bends the Phillips Curve Around the World<\/a> (Old Version), Peterson Institute for International Economics Working Paper 20-6, March 2020.<\/li>\n \t<li>Also available as\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3577993\" target=\"_blank\" rel=\"noopener\">MIT Sloan Research Paper 6101-20<\/a>.<\/li>\n \t<li>Click here for the\u00a0<a href=\"https:\/\/www.piie.com\/publications\/working-papers\/low-inflation-bends-phillips-curve-around-world-extended-results\" target=\"_blank\" rel=\"noopener\">replication folder<\/a> with underlying data, code and output files.<\/li>\n \t<li>Selected press mentions:\u00a0<a href=\"https:\/\/www.centralbanking.com\/central-banks\/economics\/macroeconomics\/7554036\/phillips-curve-flatter-when-inflation-is-low-researchers\" target=\"_blank\" rel=\"noopener\">Central Banking<\/a>\u00a0(06\/04\/2020).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3933298\" target=\"_blank\" rel=\"noopener\">Macroprudential Policy during COVID: The Role of Policy Space<\/a> (2022)<strong>\u00a0<\/strong>with Katharina Bergant.<strong>\u00a0<\/strong>In <em>Macro-financial Stability Policy in a Globalised World<\/em>, Chapter 4.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Available as <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3933298\" target=\"_blank\" rel=\"noopener\">MIT Sloan Research Paper 6444-21 on SSRN<\/a>.<\/li>\n \t<li>Also available as <a href=\"https:\/\/cepr.org\/active\/publications\/discussion_papers\/dp.php?dpno=16607\" target=\"_blank\" rel=\"noopener\">CEPR Working Paper #DP 16607<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li>Monetary Policy and Central Banking in the Covid Era\u00a0(2021) with Bill English and \u00c1ngel Ubide.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Overview and <a href=\"https:\/\/voxeu.org\/content\/monetary-policy-and-central-banking-covid-era\" target=\"_blank\" rel=\"noopener\">full CEPR ebook<\/a>.<\/li>\n \t<li>Link to a <a href=\"https:\/\/voxeu.org\/article\/monetary-policy-and-central-banking-covid-era-new-ebook\" target=\"_blank\" rel=\"noopener\">Vox-EU article<\/a> of highlight.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/www.annualreviews.org\/doi\/abs\/10.1146\/annurev-economics-081020-051248\" target=\"_blank\" rel=\"noopener\">The International Aspects of Macroprudential Policy<\/a> (2021).\u00a0<em>Annual Review of Economics,<\/em> 13 (August): 203-228.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Available as <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3675250\" target=\"_blank\" rel=\"noopener\">NBER Working Paper 27698.<\/a><\/li>\n \t<li>Available as <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3672386\" target=\"_blank\" rel=\"noopener\">MIT Sloan Research Paper 6167-20.<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"http:\/\/doi.org\/10.1016\/j.jfineco.2020.10.005\" target=\"_blank\" rel=\"noopener\">Macroprudential FX\u00a0Regulations: Shifting the Snowbanks of FX Vulnerability?<\/a> (2021) with Toni Ahnert, Christian Friedrich, and Dennis Reinhardt.<em> Journal of Financial Economics 140(1, April): 145-174.<\/em>\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li><a href=\"https:\/\/www.dropbox.com\/scl\/fi\/8jgh1i73x4jynfs3ypxqd\/Macroprudential-FX-Regulations-Data.xlsx?dl=0&amp;rlkey=3razz3sc76fmpcx3cvb0kaxwx\" target=\"_blank\" rel=\"noopener\">Access to the dataset on macroprudential FX regulations<\/a><\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/mdwikfmjzvbfohf\/Snowbanks_Replication%20Folder.zip?dl=1\" target=\"_blank\" rel=\"noopener\">A folder with information on the code and data used for the paper<\/a><\/li>\n \t<li><a href=\"https:\/\/www.nber.org\/papers\/w25083\" target=\"_blank\" rel=\"noopener\">Also available as NBER Working Paper 25083.<\/a><\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3139618\" target=\"_blank\" rel=\"noopener\">Also available as MIT-Sloan Research Paper 5293-18<\/a>.<\/li>\n \t<li><a href=\"https:\/\/portal.cepr.org\/discussion-paper\/1742\" target=\"_blank\" rel=\"noopener\">Also available as CEPR Discussion Paper No. DP12766.<\/a><\/li>\n \t<li><a href=\"https:\/\/www.nber.org\/digest\/dec18\/\" target=\"_blank\" rel=\"noopener\">Highlighted in NBER Digest, Dec 2018<\/a>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/doi.org\/10.1016\/j.jimonfin.2021.102394\" target=\"_blank\" rel=\"noopener\">Capital Flow Waves\u2014Or Ripples? Extreme Capital Flow Movements Since the Crisis<\/a> (2021) with Francis Warnock. <i>Journal of International Money and Finance 116(Sept)<\/i>.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li><a href=\"https:\/\/www.nber.org\/papers\/w26851\" target=\"_blank\" rel=\"noopener\">An earlier 2020 version of\u00a0NBER Working Paper No. 26851<\/a> (March).<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/60qaclm35bydvsu\/Capital%20Flow%20Waves%20or%20Ripples_READ%20ME.pdf?dl=1\" target=\"_blank\" rel=\"noopener\">Basic information on the available datasets<\/a>.<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/hcwz96okzpem8nl\/ForbesWarnock_flows_dataset.dta?dl=1\" target=\"_blank\" rel=\"noopener\">The underlying capital flow data<\/a> (Feb 2021).<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/vdrryyeio35zxr3\/ForbesWarnock_episodes.dta?dl=1\" target=\"_blank\" rel=\"noopener\">The updated list of episodes<\/a> (Feb 2021).<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/2h3zjp9b0d2piay\/ForbesWarnock_control_variables.dta?dl=1\" target=\"_blank\" rel=\"noopener\">Access the control variables used in the analysis<\/a> (Feb 2021).<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/scl\/fi\/dd9240ldaeq899lzm9579\/ForbesWarnock_variable_definitions.xlsx?dl=0&amp;rlkey=jv2l2te4rnejimfw44ftbkaot\" target=\"_blank\" rel=\"noopener\">More details on the variable definitions and sources<\/a> (Feb 2021).<\/li>\n \t<li>Also <a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=7834\" target=\"_blank\" rel=\"noopener\">available as an earlier working paper<\/a> in November 2019.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/link.springer.com\/article\/10.1057\/s41308-020-00124-2\">International Evidence on Shock-Dependent Exchange Rate Pass-Through<\/a> (2020) with Ida Hjortsoe and Tsvetelina Nenova. <em>IMF Economic Review <\/em>68:721-763.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/p3srmqqnf2h1vkh\/replication_codes%20%281%29.zip?dl=0\" target=\"_blank\" rel=\"noopener\">Data replication files<\/a> (07\/20\/20)<\/li>\n \t<li>Earlier versions available:\n<ul>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3688196\" target=\"_blank\" rel=\"noopener\">CEPR Discussion Paper No. DP15242<\/a> (Sept 2020)<\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3683622\" target=\"_blank\" rel=\"noopener\">NBER \u00a0Working Paper No. 27746<\/a> (Aug 2020)<\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3256352\" target=\"_blank\" rel=\"noopener\">MIT Sloan Research Paper No. 5522-18<\/a> (Sept 2018)<\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2999637\" target=\"_blank\" rel=\"noopener\">Bank of England External MPC Unit Discussion Paper No. 50<\/a> (June 2017), a longer version called, \"Shocks versus Structure: Explaining Differences in Exchange Rate Pass-Through across Countries and Time.\"<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/www.brookings.edu\/bpea-articles\/inflation-dynamics-dead-dormant-or-determined-abroad\/\" target=\"_blank\" rel=\"noopener\">Inflation Dynamics: Dead, Dormant, Or Determined Abroad?<\/a> (2020) Brookings Papers on Economic Activity, prepared for conference on Sept 5-6, 2019 in Washington, DC.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Also available as\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3489524\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Working Paper 5893-19<\/a>.<\/li>\n \t<li>Also available as\u00a0<a href=\"https:\/\/www.nber.org\/papers\/w26496?utm_campaign=ntwh&amp;utm_medium=email&amp;utm_source=ntwg16\" target=\"_blank\" rel=\"noopener\">NBER Working Paper 26496<\/a>.<\/li>\n \t<li>Selected press mentions:\u00a0<a href=\"https:\/\/www.economist.com\/special-report\/2019\/10\/10\/low-inflation-is-a-global-phenomenon-with-global-causes\" target=\"_blank\" rel=\"noopener\">Economist\u00a0(10\/10\/19<\/a>),\u00a0<a href=\"https:\/\/www.economist.com\/finance-and-economics\/2018\/06\/30\/the-rich-world-needs-higher-real-wage-growth\" target=\"_blank\" rel=\"noopener\">Economist (06\/30\/18)<\/a>, <a href=\"https:\/\/www.centralbanking.com\/central-banks\/economics\/macroeconomics\/4448926\/inflation-models-must-pay-more-attention-to-globalisation-brookings-paper?utm_medium=email&amp;utm_campaign=CB.Daily_RL.EU.A.U&amp;utm_source=CB.DCM.Editors_Updates&amp;im_amfcid=7336921&amp;im_amfmdf=6699eb8f05011496cd2e45f92170f8cd\" target=\"_blank\" rel=\"noopener\">Central Banking (09\/23\/19)<\/a>, <a href=\"https:\/\/www.axios.com\/globalization-may-be-changing-the-fundamentals-of-economics-8e1391bd-4b40-4fa8-a38f-c14561542741.html\" target=\"_blank\" rel=\"noopener\">Axios (09\/06\/19)<\/a>, <a href=\"https:\/\/www.brookings.edu\/blog\/up-front\/2019\/09\/05\/globalization-has-changed-inflation-dynamics-but-domestic-developments-still-matter\/\" target=\"_blank\" rel=\"noopener\">Brookings Blog (09\/05\/19)<\/a>.<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/ktawr0tslhwwujb\/ProgramInfo_InflationDynamics.pdf?dl=1\" target=\"_blank\" rel=\"noopener\">Directions on how to replicate the results in this paper<\/a> , here for the\u00a0<a href=\"https:\/\/www.dropbox.com\/s\/2d2w1rzidfuhsxu\/Data.zip?dl=1\" target=\"_blank\" rel=\"noopener\">source data<\/a>\u00a0and here for the\u00a0<a href=\"https:\/\/www.dropbox.com\/s\/lfs2em0zvqlxtde\/DoFiles.zip?dl=1\" target=\"_blank\" rel=\"noopener\">program code<\/a>.<\/li>\n \t<li><a href=\"http:\/\/doi.org\/10.1257\/pandp.20201094\" target=\"_blank\" rel=\"noopener\">Do Sounder Banks Make Calmer Waters? The Link Between Bank Regulations and Capital Flow Waves<\/a>. (2020).<em>\u00a0<\/em><em>AEA: Papers and Proceedings<\/em>, Vol. 110 (May) 516-622.<\/li>\n \t<li>\u00a0 Download the zip file with <a href=\"https:\/\/www.dropbox.com\/s\/w1845axrjn088zl\/Forbes_DoSounderBanksMakeCalmerWaters_POSTED.zip?dl=1\">code and data.<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"http:\/\/doi.org\/10.1111\/manc.12293\" target=\"_blank\" rel=\"noopener\">A Trendy Approach to UK Inflation Dynamics<\/a>\u00a0(2019) with Lewis Kirkham and Konstantinos Theodoridis. <em>The Manchester School<\/em>, July, 1-53.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Also available as: <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3112276\" target=\"_blank\" rel=\"noopener\">CEPR Discussion Paper No. DP12652<\/a> (Jan 2018) and \u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2990338\" target=\"_blank\" rel=\"noopener\">Bank of England External MPC Unit Discussion Paper No. 49<\/a> (June 2017)<\/li>\n \t<li>Selected press mentions,\u00a0<a href=\"http:\/\/www.centralbanking.com\/central-banks\/economics\/economic-modelling\/3261796\/boe-economists-criticise-dsge-inflation-modelling\" target=\"_blank\" rel=\"noopener\">Central Banking (6\/20\/17)<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-06-19\/bank-of-england-s-forbes-warns-against-underestimating-inflation\" target=\"_blank\" rel=\"noopener\">Bloomberg (06\/19\/17)<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"http:\/\/doi.org\/10.1257\/pandp.20191056\" target=\"_blank\" rel=\"noopener\">Macroprudential Policy: What We Know, Don\u2019t Know and Need to Do<\/a> (2019). Paper prepared for AEA Annual meetings held in Atlanta, GA, in January 2019. <em>American Economic Review: AEA Papers and Proceedings<\/em>\u00a0109(2019): 470-475.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022199618302009\" target=\"_blank\" rel=\"noopener\">The Shocks Matter: Improving Our Estimates of Exchange Rate Pass-Through<\/a>\u00a0(2018) with Ida Hjortsoe and Tsvetelina Nenova. <em>Journal of International Economics<\/em> 114(Sept), pgs. 255-275.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Also available as:\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3206448\" target=\"_blank\" rel=\"noopener\">NBER Working Paper No. 24773<\/a> (July 2018), <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3210602\" target=\"_blank\" rel=\"noopener\">CEPR Discussion Paper No. DP13037<\/a> (July 2018),\u00a0<a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2691512\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Working Paper #5149-15<\/a>\u00a0(Nov 2015) and <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2689737\" target=\"_blank\" rel=\"noopener\">Bank of England External MPC Unit Discussion Paper No. 43<\/a> (Nov 2015).<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/rwttnxj6k2kkx6y\/Forbes_2018_JN_Shocks_Matter_Online_Appendix.pdf?dl=1\" target=\"_blank\" rel=\"noopener\">Online Appendix<\/a><\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/fbqlqkv3cezpufw\/Forbes_2018_JN_Shocks_Matter_ReplicationFiles.zip?dl=1\" target=\"_blank\" rel=\"noopener\">Data and replication files\n<\/a><\/li>\n \t<li>Selected press mentions,\u00a0<a href=\"http:\/\/mitsloan.mit.edu\/ideas-made-to-matter\/moving-beyond-monetary-policy-rule-thumb\" target=\"_blank\" rel=\"noopener\">Moving Beyond the Monetary Policy Rule of Thumb<\/a>\u00a0(2018),\u00a0<a href=\"https:\/\/www.ft.com\/content\/9c746d04-4456-11e6-9b66-0712b3873ae1\" target=\"_blank\" rel=\"noopener\"><em>Financial Times<\/em> (July 8, 2016)<\/a>,\u00a0<a href=\"http:\/\/www.economist.com\/news\/britain\/21707114-firms-may-struggle-absorb-extra-cost-pricier-imports-consumers-will-foot-bill-how\" target=\"_blank\" rel=\"noopener\"><em>Economist<\/em>\u00a0(Sept. 23, 2016)<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li>\u00a0<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0304393216301106\" target=\"_blank\" rel=\"noopener\">The Spillovers, Interactions, and (Un)intended Consequences of Monetary and Regulatory Policies<\/a> (2017) with Dennis Reinhardt and Tomas Wieladek.\u00a0<em>Journal of Monetary Economics\u00a0<\/em>85(Jan), 1-22<em>.\u00a0<\/em>\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Also available as\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2728405\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Research paper #5163-16<\/a>,\u00a0<a href=\"https:\/\/www.bankofengland.co.uk\/external-mpc-discussion-paper\/2016\/the-spillovers-interacting-and-unintended-consequences-of-monetary-and-regulatory-policies\" target=\"_blank\" rel=\"noopener\">Bank of England External MPC Unit Discussion Paper No. 44<\/a>\u00a0and\u00a0<a href=\"http:\/\/www.nber.org\/papers\/w22307\" target=\"_blank\" rel=\"noopener\">NBER Working Paper #22307<\/a>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2973603\" target=\"_blank\" rel=\"noopener\">Current Account Deficits During Heightened Risk: Menacing or Mitigating?<\/a>\u00a0(2017) with Ida Hjortsoe and Tsvetelina Nenova.\u00a0<em>Economic Journal\u00a0<\/em>127 (601): 571-623.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Older version available as:\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2783917\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Research Paper 5167-16<\/a>,\u00a0<a href=\"http:\/\/www.bankofengland.co.uk\/monetarypolicy\/Documents\/externalmpc\/extmpcpaper0046.pdf\" target=\"_blank\" rel=\"noopener\">External MPC Unit Discussion Paper 46<\/a>, and\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2853237\" target=\"_blank\" rel=\"noopener\">NBER Working paper #22741<\/a>.<\/li>\n \t<li>Royal Economic Society non-technical highlights:\u00a0<a href=\"http:\/\/voxeu.org\/content\/current-account-deficits-knowing-when-act\" target=\"_blank\" rel=\"noopener\">Current Account Deficits: Knowing When to Act.<\/a><\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/3v4voppksxlutxs\/Current_Account_Deficits_2017_dataset_final%20%281%29.xlsx?dl=1\" target=\"_blank\" rel=\"noopener\">Dataset for paper<\/a>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"http:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/manc.12159\/abstract\" target=\"_blank\" rel=\"noopener\">Much Ado about Something Important: How do Exchange Rate Movements Effect Inflation<\/a><strong>\u00a0<\/strong>(2016)\u00a0<em>The Manchester School\u00a0<\/em>84 (S1, September), pgs. 15-41.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"http:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022199615001920\" target=\"_blank\" rel=\"noopener\">Bubble Thy Neighbor: Direct and Spillover Effects of Capital Controls<\/a>\u00a0(2016) with Marcel Fratzscher, Thomas Kostka and Roland Straub.\u00a0<em>Journal of International Economics\u00a0<\/em>99 (March), pgs. 85-104.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Earlier versions available as\u00a0<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2056491\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Research Paper #4962-12<\/a>\u00a0and\u00a0<a href=\"http:\/\/www.nber.org\/papers\/w18052\" target=\"_blank\" rel=\"noopener\">NBER Working Paper #18052<\/a>.<\/li>\n \t<li>Selected Press Mentions:\u00a0<a href=\"http:\/\/www.economist.com\/node\/21564193\" target=\"_blank\" rel=\"noopener\">The Economist (10\/06\/12)<\/a>,\u00a0<a href=\"http:\/\/www.centralbanking.com\/central-banking\/research\/2198385\/ecb-paper-warns-of-capital-control-externalities\" target=\"_blank\" rel=\"noopener\">Central Banking (08\/13\/12)<\/a>,\u00a0<a href=\"http:\/\/blogs.ft.com\/economistsforum\/2012\/01\/capital-controls-are-not-beggar-thy-neighbour\/\" target=\"_blank\" rel=\"noopener\">Financial Times (01\/23\/12).<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n \t<li><a href=\"http:\/\/www.sciencedirect.com\/science\/article\/pii\/S002219961400124X\" target=\"_blank\" rel=\"noopener\">Capital Flow Management Measures: What are They Good For?<\/a>\u00a0(2015) with Marcel Fratzscher, Thomas Kostka, and Roland Straub.\u00a0<em>Journal of International Economics\u00a0<\/em>96 (1, July), pgs. S76-S97.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Older version available as: <a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2364486\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Working Paper 5061-13<\/a><strong>\u00a0and\u00a0<\/strong><a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2551668\" target=\"_blank\" rel=\"noopener\">NBER Working Paper #20860<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/www.palgrave-journals.com\/imfer\/journal\/v63\/n1\/abs\/imfer20152a.html\" target=\"_blank\" rel=\"noopener\">Pick Your Poison: The Choices and Consequences of Policy Responses to Crises<\/a>\u00a0(2015) with Michael Klein.\u00a0<em>IMF Economic Review<\/em> 63 (April), pgs.197-237.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Older version available as:\u00a0<a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2364457\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Working Paper 5062-13<\/a><strong>\u00a0and\u00a0<\/strong><a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2572146\" target=\"_blank\" rel=\"noopener\">NBER Working Paper #20987<\/a><strong><strong>.<\/strong><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/www.adb.org\/publications\/managing-capital-flows-issues-selected-emerging-market-economies\" target=\"_blank\" rel=\"noopener\">Capital Flow Volatility and Contagion: A Focus on Asia<\/a>\u00a0(2014), in Bruno Carrasco, Subir Gokarn, and Hiranya Mukhopadhyay, eds.,\u00a0<em>Managing Capital Flows: Issues in Selected Emerging Market Economics,\u00a0<\/em>Oxford University Press: New Delhi, pgs.3-31.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Older version available as: <a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2185011\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Working Paper 4979-12<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2131699\" target=\"_blank\" rel=\"noopener\">Debt- and Equity-Led Capital Flow Episodes<\/a>\u00a0(2014) with Francis Warnock. In Miguel Fuentes and Carmen M. Reinhart, eds.\u00a0<em>Capital Mobility and Monetary Policy<\/em>. Santiago: Central Bank of Chile.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Older version available as: <a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2131699\" target=\"_blank\" rel=\"noopener\">NBER Working Paper #18329<\/a><strong><strong>.<\/strong><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/www.kansascityfed.org\/publicat\/sympos\/2012\/Forbes_final.pdf\" target=\"_blank\" rel=\"noopener\">The \"Big C\": Identifying and Mitigating Contagion<\/a> (2013). The Changing Policy Landscape. 2012 Jackson Hole Symposium hosted by the Federal Reserve Bank of Kansas City, pgs 23-87.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Selected Press Mentions:\u00a0<a href=\"http:\/\/www.bloomberg.com\/news\/2012-08-31\/mit-s-forbes-says-bank-leverage-boosts-contagion-risk.html\" target=\"_blank\" rel=\"noopener\">Bloomberg (08\/31\/12)<\/a>,\u00a0<a href=\"http:\/\/uk.reuters.com\/article\/2012\/08\/31\/uk-usa-fed-contagion-idUKBRE87U0QB20120831\" target=\"_blank\" rel=\"noopener\">Reuters (08\/31\/12)<\/a>,\u00a0<a href=\"http:\/\/blogs.wsj.com\/economics\/2012\/08\/31\/how-to-prevent-euro-zone-contagion\/\" target=\"_blank\" rel=\"noopener\">Wall Street Journal (08\/31\/12)<\/a>,\u00a0<a href=\"http:\/\/blogs.ft.com\/money-supply\/2012\/08\/31\/jackson-hole-paper-1-contagion\/\" target=\"_blank\" rel=\"noopener\">Financial Times (08\/31\/12)<\/a>,\u00a0<a href=\"http:\/\/www.economist.com\/node\/21556903\" target=\"_blank\" rel=\"noopener\">The Economist (06\/16\/12).<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022199612000566\" target=\"_blank\" rel=\"noopener\">Capital Flow Waves: Surges, Stops, Flight and Retrenchment<\/a>\u00a0(2012) with Francis Warnock.\u00a0<em>Journal of International Economics<\/em> 88(2, Nov): 235-251.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Older version accessible as\u00a0<a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1923259\" target=\"_blank\" rel=\"noopener\">MIT-Sloan Working paper #4927-11<\/a>\u00a0or\u00a0<a href=\"http:\/\/www.nber.org\/papers\/w17351\" target=\"_blank\" rel=\"noopener\">NBER Working Paper #17351.<\/a><\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/sknqm2j51n6e8ty\/Capital_Flow_Waves_2012_SurgesStopsFlightRetrenchment-EpisodeData.dta?dl=1\" target=\"_blank\" rel=\"noopener\">Download the dataset of episodes<\/a>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1337206\" target=\"_blank\" rel=\"noopener\">Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act<\/a>\u00a0(2011) with Dhammika Dharmapala and Fritz Foley.\u00a0<em>Journal of Finance<\/em> vol. 66(3, June): pgs. 753-787.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li><a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1337206\" target=\"_blank\" rel=\"noopener\">Link to older working paper<\/a>.<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/jz2texha9mpgs6y\/2011_Watch_What_I_Do_HIA-DocumentAppendix.pdf?dl=1\" target=\"_blank\" rel=\"noopener\">Internet Appendix with links to documents<\/a>.<\/li>\n \t<li>Selected Press Mentions: <a href=\"https:\/\/www.bostonglobe.com\/news\/nation\/2017\/11\/30\/will-corporate-tax-breaks-really-mean-more-jobs-not-likely-experts-say\/SN4QFQiLses3peETh3MkSK\/story.html\" target=\"_blank\" rel=\"noopener\">Boston Globe (12\/01\/17)<\/a>, <a href=\"http:\/\/www.economist.com\/node\/18621038\" target=\"_blank\" rel=\"noopener\">The Economist (04\/28\/11)<\/a>,\u00a0<a href=\"http:\/\/www.washingtonpost.com\/politics\/the-influence-industry-companies-lobbying-for-tax-holiday-on-overseas-money\/2011\/04\/13\/AFGpMp0E_story.html\" target=\"_blank\" rel=\"noopener\">Washington Post (04\/27\/11)<\/a>,\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2011-03-17\/apple-google-may-profit-on-a-tax-holiday\" target=\"_blank\" rel=\"noopener\">Bloomberg Business Week (03\/17\/11)<\/a>,\u00a0<a href=\"http:\/\/www.nytimes.com\/2009\/06\/05\/business\/05norris.html?ref=todayspaper\" target=\"_blank\" rel=\"noopener\">NY Times (06\/05\/09).<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li class=\"style13\"><a href=\"http:\/\/doi.org\/10.1016\/j.jinteco.2009.09.001\" target=\"_blank\" rel=\"noopener\">Why do Foreigners Invest in the United States?<\/a> (2010)\u00a0<em>Journal of International Economics<\/em> 80(1): 3-21.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li class=\"style13\">Lead Article.<\/li>\n \t<li class=\"style13\"><a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1118864\" target=\"_blank\" rel=\"noopener\">Link to working paper.<\/a><\/li>\n \t<li class=\"style13\">Press mentions:\u00a0<a href=\"http:\/\/www.economist.com\/finance\/economicsfocus\/displaystory.cfm?story_id=12341545\" target=\"_blank\" rel=\"noopener\">Economist (10\/03\/08)<\/a>,\u00a0<a href=\"http:\/\/www.nber.org\/digest\/aug08\/w13908.html\" target=\"_blank\" rel=\"noopener\">NBER Digest (08\/08)<\/a>,\u00a0<a href=\"http:\/\/online.wsj.com\/article\/SB121418122270695687.html?mod=2_1577_leftbox\" target=\"_blank\" rel=\"noopener\">Wall Street Journal (06\/23\/08)<\/a>,\u00a0US News and World Report, and CNBC Morning Call.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5004\" target=\"_blank\" rel=\"noopener\">Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises<\/a>\u00a0(2008), with Mihir Desai and C. Fritz Foley.\u00a0<em>Review of Financial Studies<\/em> vol. 21(6), pgs. 2857-2888.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>Runner-up for Michael Brennan Award for Best Paper Published in 2008.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5005\" target=\"_blank\" rel=\"noopener\">One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms<\/a>.\u00a0(2007)\u00a0<em>Journal of International Economics, vol 71(2, April), pgs. 294-323.\n<span style=\"color: #ffffff\">blank<\/span>\n<\/em><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=2221\" target=\"_blank\" rel=\"noopener\">The Microeconomic Evidence on Capital Controls: No Free Lunch<\/a> (2007). In Sebastian Edwards, ed.\u00a0<em>Capital Controls and Capital Flows in Emerging Economics: Policies, Practices, and Consequences.\u00a0<\/em>Chicago: University of Chicago Press, pgs. 171-199.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=4978\" target=\"_blank\" rel=\"noopener\">Available in NBER working paper form<\/a>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5006\" target=\"_blank\" rel=\"noopener\">Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia<\/a>,\u00a0with Tilak Abeysinghe (2005).\u00a0<em>Review of International Economics\u00a0<\/em>13(2), pgs. 356-375.<\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=4923\" target=\"_blank\" rel=\"noopener\">A Decomposition of Global Linkages in Financial Markets Over Time<\/a>,\u00a0with Menzie Chinn (2004).\u00a0<em>Review of Economics and Statistics,\u00a0<\/em>86(3, August): pgs. 705-722.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/cjlmihqg63878wy\/Forbes_Chinn_2004_DecompositionGlobalLinkages-DataInfo.pdf?dl=1\" target=\"_blank\" rel=\"noopener\">Dataset Information<\/a> (pdf)<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/cjlmihqg63878wy\/Forbes_Chinn_2004_DecompositionGlobalLinkages-DataInfo.pdf?dl=1\" target=\"_blank\" rel=\"noopener\">Factor Model Dataset<\/a> (zipped stata)<\/li>\n \t<li><a href=\"https:\/\/www.dropbox.com\/s\/fboepyjm2l4i5ce\/Forbes_Chinn_DecompositionGlobalLinkages-BilateralLinkageModel-data.zip?dl=1\" target=\"_blank\" rel=\"noopener\">Bilateral Linkage Model Dataset<\/a> (zipped stata)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5007\" target=\"_blank\" rel=\"noopener\">The Asian Flu and Russian Virus: The International Transmission of Crises in Firm-Level Data<\/a>\u00a0(2004).\u00a0<em>Journal of International Economics\u00a0<\/em>, vol. 63(1, May): pgs. 59-92.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5008\" target=\"_blank\" rel=\"noopener\">Cheap Labor Meets Costly Capital: The Impact of Devaluations on Commodity Firms<\/a>\u00a0(2002).\u00a0<em>Journal of Development Economics,\u00a0<\/em>vol. 69 (2, December), pgs. 335-365.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"https:\/\/www.imf.org\/external\/pubs\/ft\/staffp\/2001\/00-00\/pdf\/forbes.pdf\" target=\"_blank\" rel=\"noopener\">How do Large Depreciations Affect Firm Performance?<\/a>\u00a0(2002).\u00a0<em>IMF Staff Papers,\u00a0<\/em>vol. 49, pgs. 214-238.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=4927\" target=\"_blank\" rel=\"noopener\">Are Trade Linkages Important Determinants of Country Vulnerability to Crises?<\/a>\u00a0(2002). In Sebastian Edwards and Jeffrey Frankel, eds.,\u00a0<em>Preventing Currency Crises in Emerging Markets.\u00a0<\/em>University of Chicago Press, Chicago, pgs. 77-124.\n<ul>\n \t<li style=\"list-style-type: none\">\n<ul>\n \t<li>(<a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=4927\" target=\"_blank\" rel=\"noopener\">Only available in NBER working paper form.<\/a>)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5001\" target=\"_blank\" rel=\"noopener\">No Contagion, Only Interdependence: Measuring Stock Market Comovements<\/a>\u00a0(2002), joint with Roberto Rigobon.\u00a0<em>Journal of Finance,\u00a0<\/em>vol. LVII\u00a0 (5, October), pgs. 2223-2261.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5002\" target=\"_blank\" rel=\"noopener\">Skill Classification Does Matter: Estimating the Relationship Between Trade Flows and Wage Inequality<\/a>\u00a0(2001).\u00a0<em>Journal of International Trade and Economic Development,\u00a0<\/em>vol. 10\u00a0 (2, June), pgs. 175-209.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5003\" target=\"_blank\" rel=\"noopener\">Contagion in Latin America: Definitions, Measurement and Policy Implications<\/a>\u00a0(2001), joint with Roberto Rigobon.\u00a0<em>Economia,\u00a0<\/em>vol. 1 (2, Spring), pgs. 1-46.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=4928\" target=\"_blank\" rel=\"noopener\">International Financial Contagion: An Overview of the Issues and the Book<\/a>\u00a0(2001), joint with Stijn Claessens. Introductory chapter of\u00a0<em>International Financial Contagion,\u00a0<\/em>edited by Stijn Claessens and Kristin Forbes. Kluwer Academic Publishers, pgs.\u00a0 3-17.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=4929\" target=\"_blank\" rel=\"noopener\">Measuring Contagion: Conceptual and Empirical Issues<\/a>\u00a0(2001), joint with Roberto Rigobon. Chapter 3 in\u00a0<em>International Financial Contagion,\u00a0<\/em>edited by Stijn Claessens and Kristin Forbes. Kluwer Academic Publishers, pgs. 43-66.\n<span style=\"color: #ffffff\">blank<\/span><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5009\" target=\"_blank\" rel=\"noopener\">A Reassessment of the Relationship Between Inequality and Growth<\/a>\u00a0(2000).\u00a0\u00a0<em>American Economic Review<\/em>, vol. 90 (4, September), pgs. 869-887.<\/li>\n<\/ul><\/div><\/div><div id=\"panel-16-0-0-4\" class=\"so-panel widget widget_mit-pf-wysiwyg widget_mit_pf_wysiwyg\" data-index=\"4\" ><div class=\"textwidget\"><p><a name=\"older\"><\/a><\/p>\n<\/div><\/div><div id=\"panel-16-0-0-5\" class=\"so-panel widget widget_mit-pf-research widget_mit_pf_research panel-last-child\" data-index=\"5\" ><h2 class=\"widget-title\">Older Projects<\/h2><div class=\"textwidget\"><a name=\"publishedpapers\"><\/a>\n<ul>\n \t<li><a href=\"https:\/\/www.bis.org\/publ\/work791.htm\" target=\"_blank\" rel=\"noopener\">Has Globalization Changed the Inflation Process?<\/a>\u00a0(2019) BIS Working Papers No. 297, July. Paper prepared for 17th BIS Annual Research Conference held in Zurich on June 22, 2018.\n<span style=\"color: #ffffff;\">.<\/span><\/li>\n \t<li><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=4919\" target=\"_blank\" rel=\"noopener\">Macroprudential Policy After the Crisis: Forging a Thor's Hammer for Financial Stability in Iceland<\/a>\u00a0(2018). Report prepared at the request of the Task Force to review monetary and currency policies for Iceland.\n<span style=\"color: #ffffff;\">.<\/span><\/li>\n \t<li>Inequality and Growth: An Evaluation of Trends and Relationships in India\n<a href=\"https:\/\/www.dropbox.com\/s\/2z0exo1vkdtot0a\/forbes_1997_India-abstract.pdf?dl=1\" target=\"_blank\" rel=\"noopener\">Abstract<\/a> (Aug. 1996)<\/li>\n<\/ul><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Working Papers &amp; Recent Projects\u00a0|\u00a0Published Papers | Older ProjectsWorking Papers and Recent Projects Convergence, Divergence, and a Divergent: Monetary Policy and Global Imbalances (January 2026), paper prepared for Annual AlUla Conference for Emerging Market Economies, in AlUla, Kingdom of Saudi Arabia on Feb 8-9. Overview of conference Clipof my session Full video of presentation Selected [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-two-column.php","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"class_list":["post-16","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.0 (Yoast SEO v25.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MIT Sloan Faculty: Kristin J. Forbes | Research<\/title>\n<meta name=\"description\" content=\"Forbes\u2019 academic research addresses policy-related questions in international macroeconomics.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mitmgmtfaculty.mit.edu\/kjforbes\/research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Research\" \/>\n<meta property=\"og:description\" content=\"Forbes\u2019 academic research addresses policy-related questions in international macroeconomics.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mitmgmtfaculty.mit.edu\/kjforbes\/research\/\" \/>\n<meta property=\"og:site_name\" content=\"Kristin J. 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